KARACHI, Sep 23 (APP): State Bank of Pakistan has advised the exchange companies that all foreign currency sale transactions of $2,000 or above (equivalent in other currencies) against the Pakistan Rupee should only be conducted through payment modes such as bank transfer/cheques from the personal bank account of the customer.

This is aimed to enhance transparency and promote documentation in the foreign exchange transactions, said SBP statement on Friday.

This step is also focused on encouraging the general public to use various banking channels, which are generally more secure, to fulfill their genuine foreign exchange needs.

Relevant instructions can be accessed at the following links: https://www.sbp.org.pk/epd/2022/FECL15.htm

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